In 2001, Australia's economic demonstrated resources (EDR) of bauxite, copper, gold, lead,
magnesite, ilmenite, zircon, nickel, phosphate, PGM, tantalum, silver, vanadium and zinc
increased, while those of black coal, diamonds, iron ore, lithium, manganese ore and uranium
decreased. EDR of brown coal was maintained at levels similar to those reported in 2000. The
reductions in EDR were due mainly to ongoing high levels of production; with low commodity
prices a subsidiary factor.
EDR of gold, nickel and mineral sands reached record levels. Gold EDR rose by 4% and was
over 80% of total demonstrated resources, this increase in resources continuing the established
long-term growth trend for gold. In recent years that trend has continued despite falling
exploration expenditure reflecting an increasing trend to concentrate exploration efforts in
brownfields regions in response to the sustained period of depressed gold price.
Australia, continues to rank as one of the world's leading mineral resource nations. It has the
world's largest EDR of lead, mineral sands, nickel, silver, tantalum, uranium and zinc. In
addition, its EDR is in the top six worldwide for bauxite, black coal, brown coal, cobalt, copper,
gold, iron ore, lithium, manganese ore, rare earth oxides and gem/near gem diamond.
Mineral exploration expenditure rose by 1% to $683.3 million in 2000-01, which was the first
increase in annual exploration spending since 1996-97. However spending for calendar year
2001, based on the sum of ABS four-quarter figures, was down by $12 million to $664.4 million.
Production of many mineral commodities again reached record levels in 2000-01, and overall
mine production is projected by ABARE to rise in the five years to 2006-07 with the exception
of gold which they forecast will fall by 6%. ABARE have projected a very high growth of some
60% for mine production of nickel in this period. Increases are also forecast for mine
production of coal (+17%), copper (4%), lead (3%), zinc (12%), bauxite (17%) and iron ore (19%).
